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US Delivers 4 Advanced Reconnaissance Aircraft to Tunisia

One of the four C208 aircraft donated by the United States (TAP)
One of the four C208 aircraft donated by the United States (TAP)
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US Delivers 4 Advanced Reconnaissance Aircraft to Tunisia

One of the four C208 aircraft donated by the United States (TAP)
One of the four C208 aircraft donated by the United States (TAP)

Tunisia on Monday took delivery of four C208 aircraft donated by the US and equipped with control, surveillance and reconnaissance systems.

“The aircraft are endowed with modern systems which will strengthen the National Army's military and operational capabilities in countering terrorism and cross-border crime,” Tunisian Defense Minister Khaled Shili said at a ceremony held Monday at the Aouina airbase with the attendance of US Ambassador Joey Hood.

The C208 will strengthen operational and logistical capacities in intelligence, reconnaissance and aerial surveillance, he added, considering the accuracy of execution and speedy data processing and analysis.

They will thus contribute to improving security and peace at home and in the region.

The delivery takes place under the Tunisia-US cooperation and in application of the military cooperation program agreed during the 34th session of the Tunisia-US Joint Military Commission held in 2020.

Shili commended coordination with the US which led to the conclusion of what he called a “successful transaction,” as was the case in previous transactions involving C130 aircraft, training aircraft and speedboats.

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Iraq Faces 2025 Fiscal Squeeze Amid Oil Price Decline, Adviser to PM Says 

A general view shows an oil rig used in drilling at the Zubair oilfield in Basra, Iraq, July 5, 2022. (Reuters)
A general view shows an oil rig used in drilling at the Zubair oilfield in Basra, Iraq, July 5, 2022. (Reuters)
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Iraq Faces 2025 Fiscal Squeeze Amid Oil Price Decline, Adviser to PM Says 

A general view shows an oil rig used in drilling at the Zubair oilfield in Basra, Iraq, July 5, 2022. (Reuters)
A general view shows an oil rig used in drilling at the Zubair oilfield in Basra, Iraq, July 5, 2022. (Reuters)

Iraq faces a budget crunch in 2025 due to the slump in the price of oil, the overwhelming source of government revenue, a top economic adviser to Prime Minister Mohammed Shia al-Sudani said.

"We don't anticipate major problems in 2024, but we need stricter financial discipline for 2025," Mudher Saleh told Reuters in an interview late on Monday.

Iraq, OPEC's second-largest producer, is heavily dependent on oil revenues. The hydrocarbons sector accounts for the vast majority of export earnings and some 90% of state revenue.

This huge reliance on oil makes Iraq particularly vulnerable to fluctuations in global crude prices.

Still, Iraq increased its budget in 2024 even after record spending in 2023, when more than half a million additional employees were hired into the already-bloated public sector and a capital-intensive nationwide infrastructure revamp began.

The 2024 budget rose to 211 trillion dinars ($161 billion) from 199 trillion dinars ($153 billion) in 2023, maintaining a projected deficit of 64 trillion dinars, Saleh said.

The budget assumes an oil price of $70 per barrel in 2024, around $6 less than the likely average price this year.

Saleh said that paying salaries and pensions on time remain a top priority. They account for 90 trillion dinars ($69 billion), or over 40% of the budget, and are a key factor of social stability in Iraq.

"The government will pay salaries even if it costs everything. Salaries are holy in Iraq," he said.

Infrastructure development, meanwhile, could be refocused on the most strategic projects - such as key road and bridge works in the capital Baghdad - if the state finds itself in a financial crunch, he said.

To bolster finances, Iraq is focusing on increasing non-oil revenues through improved tax collection but is not exploring any new levies, Saleh said.

He estimated that Iraq loses up to $10 billion annually due to tax evasion and customs-related problems.

Concerns for the 2025 budget reflect a challenging global oil market. Oil prices have been on a downward trend since mid-2022, with Brent crude, the international benchmark, falling from over $120 per barrel to below $75 in recent days.

This decline is largely attributed to weakening global demand, particularly from China, the world's largest oil importer, as its economic growth slows down.